Shehbaz Sharif fears 'all hell to break loose' sans debt relief - New York News

New York, Sep 23 (IANS) With debt obligations drawing to a close, Pakistan Prime Minister Shehbaz Sharif has made an urgent appeal for relief in the repayment of debts from rich nations, reminding them that Pakistan is bearing the brunt of environmental damage caused by them to cater to their greed, media reports said.

by IANS | Updated Sep 23, 2022

Shehbaz Sharif fears 'all hell to break loose' sans debt relief - New York News

As per Sharif, there is a "yawning gap" between what Pakistan is asking for and what is available, warning that the nation is facing the imminent threat of epidemics and other dangers, Geo News reported.

"God forbid this happens, all hell will [break loose]," he said.

In a conversation with Bloomberg TV, Sharif said Pakistan recently signed a deal with the IMF under "very tough" conditions, including taxes on petroleum and electricity.

Seeking support for Pakistan, hit by catastrophic floods this monsoon while already reeling from a stressed economy, Sharif said, "Unless we get substantial relief, how can the world expect us to stand on our own feet? It is simply impossible. The world has to stand by us."

Responding to a question about debt obligations, the premier said they have spoken to European leaders and other leaders "to help us, in the Paris Club, get a moratorium".

Sharif shared that he'd spoken to the World Bank about immediate debt relief and would begin talks with China after the Paris Club, Geo News reported.

Pakistan owes $30 billion to China, or about a third of its total external debt.

He said the floods were the result of an unprecedented cloudburst induced by climate change due to the environmental damage caused by fossil fuels.

"Therefore, it's none of our doing, our making. Our carbon emission is less than 1 per cent and to be very exact, it's 0.08 per cent, which is the lowest in the world. But we are rated as one of the most vulnerable countries," he said.

September 23, 2022 Other New York

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

Related Articles

  • 5 killed in Rio favela shootout
  • Sikh pilgrims to visit Pak on Oct 28, to participate in centenary event
  • Aus flags data security reforms after telecommunications breach
  • Venezuela-Colombia border formally reopens
  • Biden to host Macron for state visit in Dec: WH
  • Filippo Grandi re-elected as UN High Commissioner for Refugees
  • Germany urged to drop Christmas lights tradition due to energy crisis
  • France to continue energy tariff shield in 2023 budget bill
  • Civilian casualties mount due to landmines in Yemen: UN
  • Kamala Harris to visit DMZ during S.Korea trip